LILLEY: The threat to Canada's oil industry is investment heading south |
At a time when Canada's oil industry and infrastructure needs to expand, the threat isn't being replaced by Venezuelan oil, it's Venezuela scooping up the investment dollars.
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If Saturday wasn’t a good day for Nicolas Maduro, Monday wasn’t a good day for Canadian energy stocks. Some of the biggest names in Canadian energy like Cenovus, Suncor and Canadian Natural Resources saw their stocks sink.
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By contrast, some of the biggest American firms such as Chevron, ConocoPhillips and Exxon saw their stock values rise.
It’s all part of the early analysis of what the American incursion into Venezuela and the removal of Maduro means for the oil and gas sector. Venezuela not only has the........